Diamond Offshore Drilling Inc (DO) is Upgraded by KLR Group to Buy

Diamond Offshore Drilling Inc (DO) was Upgraded by KLR Group to ” Buy”. Earlier the firm had a rating of “Accumulate ” on the company shares. KLR Group advised their investors in a research report released on May 31, 2016.

Many Wall Street Analysts have commented on Diamond Offshore Drilling Inc. Company shares were Reiterated by Deutsche Bank on May 3, 2016 to “Hold”, Firm has raised the Price Target to $ 17 from a previous price target of $14 .Diamond Offshore Drilling Inc was Initiated by Nomura to “Reduce” on Apr 8, 2016. Company shares were Upgraded by Seaport Global Securities on Mar 14, 2016 to ” Accumulate”, Firm has raised the Price Target to $ 25 from a previous price target of $17 .

On the company’s financial health, Diamond Offshore Drilling Inc reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.36 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.28. The company had revenue of $471.00 million for the quarter, compared to analysts expectations of $413.66 million. The company’s revenue was down -24.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.50 EPS.

Diamond Offshore Drilling Inc closed down -0.18 points or -0.71% at $25.12 with 21,26,198 shares getting traded on Friday. Post opening the session at $25.15, the shares hit an intraday low of $24.503 and an intraday high of $25.17 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Aug 10, 2015, Edward Grebow (director) purchased 3,000 shares at $21.99 per share price. According to the SEC, on Aug 6, 2015, Paul G Gaffney (director) purchased 1,000 shares at $21.12 per share price.

Diamond Offshore Drilling Inc. is a company engaged in offshore drilling and providing contract drilling services to the energy industry. The Company has a fleet of 38 offshore drilling rigs including 27 semisubmersibles six jack-ups and five drillships. The Company’s diverse fleet enables the Company to offer a range of services around the world in both the floater market (ultra-deepwater deepwater and mid-water) and the non-floater or jack-up market. The Company’s floater fleet (semisubmersibles and drillships) is of three types: ultra-deepwater deepwater and mid-water. Jack-up rigs are mobile self-elevating drilling platforms equipped with legs that are lowered to the ocean floor. The Company’s jack-ups are used for drilling in water depths from 20 feet to 350 feet. All of the Company’s jack-up rigs are equipped with a cantilever system that enables the rig to extend its drilling package over the aft end of the rig.

Diamond Offshore Drilling Inc

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